Keeping track of all your different passwords can be quite a task, so this little device gives you a handy place where you can store them all, completely independently from your computer or phone.
Of course there are a few potential problems with this. The Password Vault hides all of your secret info behind its own password, which you could also quite easily forget. The Password Vault does use non-volatile flash memory so you won't lose everything if the battery fails, but that doesn't mean the thing can't simply break or get lost. Finally, there's that pesky reset button that instantly wipes the entire memory. Great if you're James Bond getting a body search in Blofeld's secret lair, but not so good if you need a reminder of your ATM PIN code and your kid decided to play a prank on you.
Then there's the fact that this thing is incredibly clunky and huge for the tiny task it performs. Surely they could have built it into a watch or something.
The Password Vault will be available in January for about $50.